There is an amazing juxtaposition between the collection of antiques and all things old in an age where technology and the internet have come to dominate our lives. However, the antiques and collecting sector has been able to use the internet to spread and develop into a burgeoning industry and highly commercial and lucrative sector. Here’s how you too could engage in and enjoy antiques and all things old.
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Know the Sector
The first thing that you need to do is to understand the antique sector and the specific items and niches that you are interested in collecting. It is one of the widest areas to buy or invest in and, as such, you need to know it intricately. Anything from old baseball cards to wooden furniture and jewelry can be regarded as an antique and it will be your in-depth knowledge of the items in question that will determine your success.
Have a Plan
You will need to decide whether you will visit local antique shops and dealers and simply buy the odd antique to speculate on or whether you will buy from the online platforms available, without the need to touch and feel. Then, you will also need a marketplace for all antiques that you have collected and bought, and preferably one that is already used to sell your specific or niche item. Alternatively, you could go big and look to set up an actual shop. Either way, an online marketplace will be an essential component.
Have a Budget
Attending auctions or secondhand shops and antique fairs can be quite addictive. Embarking on such an exhilarating journey without a set/clear budget will be a mistake. You will easily overspend and adversely affect any investment opportunity. Have a set budget and stick to it.
Decide on Timeframes
Buying anything as an investment requires a little planning and you will need to first know how long you can afford to have your initial stake or purchase price tied up in the investment. Secondly, you need to know approximately how long you intend to keep the investment. The great thing with antiques is that the longer you keep them, the older they will get, with the logic being that they will increase in value. A proviso is that there are also trends in all the available antique sectors and, as such, there could be huge fluctuations in demand and, therefore, prices.
Use Your Head
You need to be passionate about whichever antiques you choose to collect or may already have in your attic. The fact that you need to build up sufficient sector knowledge and will have to spend time looking for the right investment means that you need to like what you do. However, it is clear from all the reading and research that the best antique dealers or investors are those that know and love the sector or items they buy, but also those who are best able to see these beautiful objects as a financial investment and, as such, will sell them at the right time.
Simply liking antiques and having online access to all manner of antiques from around the globe is not enough to make you a great antique investor. The aspects mentioned in this article are more likely than any others to allow you to build a credible investment portfolio in antiques, or simply buy and sell a few bespoke, old things that are in demand.